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Powell & OPEX
Powell wrecked things today but we still have OPEX to get through tomorrow. Tonight I will walk through a plan for levels in tomorrow’s trade.
Going Down?
In this video, we review today’s market action and sell off. We continue to trade lower, and the market looks weak as we get deeper into earnings season. We have a lot more earnings coming out as well as a lot more data and FED speak. Will we keep going lower or bounce?
Mid Week Low?
Powell tomorrow and OPEX Friday. Can today’s low hold for another surprise Mid Week Shuffle Low? I’ve got a plan for it either way but certainly a “must hold” support to keep things intact.
VIX Expiration Leads To Index Degradation
SPY and QQQ, Bullish Or Bearish Right Here, Right Now?
And what about TSLA and NFLX earnings? As they say at Six Flags over Texas, it is time to strap in.
The 3 Reasons We Bought the SPX This Morning
I like to have at least 3 reasons to initiate a trade. Today, near the opening, we saw internals were improving and the IWM soaring, while the SPX made new lows. We then waited for a cross of the 1-minute ATR trailing stop to go long.
Relative Performance Setups
Follow-through relies on it and here’s where the relative performance is waiting in the current environment.
Trading Lam Research (LRCX) Earnings
LRCX has an overnight earnings setup due to the stats I can see in my Hot Zone. The market makers are pricing in a bit higher move than this stock typically has, so I’m taking this opportunity to sell premium and capitalize on the volatility crush.
S&P 500 Acting Bullishly
Busy Week
This week we will hear from Fed chair Powell as well as a host of meaningful earnings reports. Finally to wrap it all up, OPEX Friday.
